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With governments in Illinois facing steep increases in yearly pension contributions, new plans are being floated to borrow billions of dollars to stabilize ailing pension funds and relieve budgetary pressures.

Annually the Civic Federation completes an analysis of the proposed budget of the City Colleges of Chicago. The Federation’s latest analysis of the City Colleges budget can be found here . This blog post expands on the...

The City of Chicago released its 2017 Comprehensive Annual Financial Report (CAFR) earlier this summer. This blog will examine the City’s Corporate Fund (i.e. General Fund) fund balance as a percent of general operating expenditures based on audited data from the City’s most recent CAFR. This...

The Chicago City Council on July 25, 2018 approved a 2.0% surcharge on shared housing and vacation rentals in the City of Chicago. The 2.0% surcharge is in addition to an existing 4.0% surcharge on vacation rentals or shared housing units, bringing the total taxes specific to home sharing to 6.0...

The State of Illinois collected over $900 million more in revenues than previously forecast in the budget year that just ended, apparently resulting in a lower than expected year-end backlog of unpaid bills.

The State’s general operating revenues for fiscal year 2018 were $37.7 billion,...